GUIDE FOR P&C ASSOCIATION TREASURERS

Save this PDF as:
 WORD  PNG  TXT  JPG

Size: px
Start display at page:

Download "GUIDE FOR P&C ASSOCIATION TREASURERS"

Transcription

1 GUIDE FOR P&C ASSOCIATION TREASURERS

2 Edition 2 Printed 2014 Guide for P&C Treasurers Copyright Federation of Parents and Citizens Associations of New South Wales Locked Bag 40, Granville NSW 2142 T:

3 CONTENTS 1. INTRODUCTION 2. THE ROLE OF THE TREASURER 3. OPERATION OF BANK ACCOUNTS 4. BANKING PROTOCOLS 5. PAYMENT OF ACCOUNTS 6. RECEIPTING AND BANKING FUNDS 7. RECORD KEEPING 8. MONITORING FINANCIAL POSITION OF SUB-COMMITTEES 9. PETTY CASH 10. EMPLOYEES 11. INSURANCE 12. GOODS AND SERVICES TAX (GST) 13. CANTEENS 14. DONATIONS TO THE SCHOOL 15. FUNDRAISING EVENTS 16. FUNDRAISING WITH PRIZES 17. SUB-ENTITY PROVISION 18. CANCELLING YOUR GST REGISTRATION 19. AUSTRALIAN BUSINESS NUMBER (ABN) 20. AUDIT 21. SAMPLES

4 1. INTRODUCTION P&C Associations across New South Wales raise in excess of $50 million annually and donate these funds to public schools. Responsibility for keeping the records associated with this fundraising rests with the Treasurer. This guide offers information to assist Treasurers to manage the financial records of their P&C Association. It outlines what should be done on a regular basis; how to prepare an annual report; audit procedures and explains the duties of the elected position. This resource is a guide only and each P&C Association must ensure that they work within the rules of the P&C Association and according to all relevant legislations and regulations. 2. THE ROLE OF THE TREASURER The Treasurer is responsible for all funds held in the name of the P&C Association. This includes all subcommittees such as canteen, uniform shop, OOSH, fete and any other committees. The Treasurer should encourage members to ask questions so they understand the P&C Association s financial position. The Treasurer should make recommendations to the P&C Association regarding an annual budget. The Treasurer undertakes and organises the following: Receives and deposits monies Maintains all financial records Draws cheques / uploads electronic transfers Presents reports to every general meeting Presents all records for auditing each year Maintains term deposits and any other investments Ensures proper procedures are in place 3. OPERATION OF BANK ACCOUNTS P&C Associations may elect to deposit their funds, in the name of the P&C Association, with any financial institution holding full trustee status within the meaning of the Trustee Act 1925, provided interest is allowed on the balance. The bank authority must ensure that two signatures are required on all authorising bank transactions, this means cheques and online banking. Authority is restricted to the Office bearers, President, Secretary, Treasurer and Vice Presidents of the P&C Association. Where practicable an office bearer should not sign a cheque where they are the payee. The school principal cannot be a signatory on P&C Association bank accounts. This is a Department of Education and Communities directive.

5 4. BANKING PROTOCOLS Cheque and authorised transaction requisitions signed by the appropriate authorised signatory raising the cheque should be filed in cheque number and transaction order with the source documentation attached. Note that electronic filing is suitable for all P&C Association resources and documents. NEVER sign a blank cheque or transfer monies to an unidentified account. Don t ask anyone else to sign a blank cheque or make a transfer to an unidentified account. Always make sure the payee and the amount is identified before signing a cheque or authorising an online banking payment. Cheques drawn to cash must be supported with documentation and the cheque must be signed by both signatories in the normal position as well as at the word cash. All cheques should be crossed Not Negotiable. All supporting vouchers and supporting invoices must be sighted and noted by two signatories or electronic authorities. DON T draw a cheque or make an online banking transfer or payment unless the expenditure has been approved. 5. PAYMENT OF ACCOUNTS All accounts should be presented to a general meeting for approval before payment unless previously resolved to be paid/expended. Funds of the P&C Association may only be spent if a majority of financial members, in attendance at a properly convened meeting, approve the payment by voting in favour. Original invoices should be clearly marked as PAID to avoid duplicate payment of the invoice. 6. RECEIPTING AND BANKING FUNDS It is the Treasurer s responsibility to ensure that receipts are issued and all funds properly deposited in the P&C Association s bank account. The Treasurer may utilise the assistance of other volunteers to carry out their duties however the responsibility for the funds lies with the Treasurer. The Treasurer cannot delegate their signatory authority on all accounts of the P&C Association. Receipt books used should contain pre-printed sequential numbers for accountability and the respective bank deposits should refer to the sequences involved. Unbanked monies must be secured in a fireproof facility and banked within two business days. If the school offers security deposits it is acceptable negotiate to have P&C Association funds collected. All monies handled in this way must be signed for when handing them over to the school. P&C Associations are free to make alternate arrangements for the receipting and banking of funds but must ensure the funds are fully accounted for at all times. When counting cash from fundraising activities such as fetes etc., Treasurers should ensure that they do not count the funds alone. All cash must be counted by at least two people, separately but in the presence of each other. This also applies to cash takings from the canteen, uniform shop and the like.

6 When cash is counted the tally sheet is to be signed and dated by those who completed the count. 7. RECORD KEEPING All financial records must be maintained to enable reporting to the P&C Association each month and for completion of the audit each year. Follow these basic bookkeeping principles: Ensure there is sufficient segregation of incompatible functions to avoid potential fraud. Ensure records are stored for ease of access and referenced to the meeting minutes where approval for the expenditure is recorded. This will particularly aid the person undertaking the audit. Keep records up to date and reconciled. Match the sequence of receipts and payments. Never use an eraser or white-out if an error is made. Instead draw a single line through the error, initial the correction and rewrite the correct entry. Establish a register for operational items such as receipt books, raffle tickets etc. and record who these have been issued to, how many and what was returned including money and unused tickets. This provides sufficient accountability for the raffle tickets issued, returned together with funds and allows for a transparent reconciliation of funds raised. Establish an Asset register to record assets purchased. There should be an accountability procedure on hand-over to incoming treasurer from incumbent treasurer. This will also allow your P&C Association to insure stock at a suitable level of cover. 8. MONITORING FINANCIAL POSITION OF SUB-COMMITTEES Sub-committees may be given delegated authority by a P&C Association meeting to spend funds up to a specified amount without prior approval (e.g. for operation of the canteen or to a member perhaps $500 to purchase stall items). Sub-committees with delegated authority to spend funds for a specific purpose, have no authority to use funds in any other way or to make donations to the school. The Treasurer is responsible for monitoring the financial position of each sub-committee. Officers of the P&C Association are the only signatories permitted on accounts, including where the sub-committee operates an account. Sub-committee may need assistance to: 9. PETTY CASH Understand and adopt the use of budgets for operations such as canteens and uniform shops to monitor adequate gross profit margins. Analyse the financial statements and take appropriate management action if the financial results or trends are adverse. Keep prices in line with costs in times of inflation. Keep inventory records for all operations such as canteen and uniform stock up to date. Follow established protocols for purchasing stock and for receipt and banking of money. Petty cash should only be used for small non-recurring expenses to a value that is less than $ If the expenditure is greater than $10 pay by cheque or bank transfer. Start off with an amount of $50. When topping up the float always top up to the original amount ($50).

7 10. EMPLOYEES You will need a lockable petty cash tin and a safe place to store it. Keep a separate record of petty cash expenses. A petty cash record form can be obtained from the Treasurer for reimbursements; however, it is more prudent to have the expenditure approved in advance. All petty cash expenses must be receipted, for this you will need a petty cash receipt book and must be accompanied by a Tax Invoice receipt for the item. Petty cash must be used for expenses only. The Tax Invoice receipt as proof of purchase must accompany all petty cash claims. It is also a good idea to purchase a petty cash voucher booklet from a stationer. This provides more information for you and the auditor. No income is to go into the petty cash account. To replenish the petty cash a cheque must be drawn. All petty cash transactions must be recorded. If your P&C Association employs staff you must: Complete activity statements ( as required by legislation. At the end of each tax period (3 months) completion of the P&C Association s business activity may be undertaken by the treasurer s assistance (financial member elected by the P&C Association), employed bookkeeper or where a sub-committee is in operation as per the respective committee s operating procedures. However, the Treasurer must ensure that they know how many employees are engaged by the P&C Association, what the respective pay rates are and that all documentation has been completed correctly. PAYG summaries for individual employees need to be prepared and issued before 14 August following the end of the year and forwarded to both employees and the Australian Tax Office together with a summary of total wages paid and PAYG withheld. Retention period for wage records is 5 years. Ensure that Workers Compensation insurance ( is purchased. Ensure that each employee is being paid under the correct award. The Fair Work Ombudsman ( ) sets the rate for awards and also provides a range of useful employer resources. Ensure that employees are NOT asked to do volunteer work as a condition of their employment. Nor should staff be paid an honorarium or gratuity for work done. Both these practices may result in the P&C Association facing the Fair Work Commission ( to answer a claim for underpayment of wages. 11. INSURANCE The Treasurer must ensure that the P&C Association purchases adequate insurance to cover all activities undertaken by the P&C Association. Membership with the Federation of Parents and Citizens Associations of New South Wales offers an automatic $20 million public liability indemnity. However, there are situations where public liability insurance, alone, is not sufficient. For example, personal accident insurance for voluntary workers, cash and property insurance, Directors and Officers Liability, Fidelity insurance and Workers Compensation insurance.

8 12. GOODS AND SERVICES TAX (GST) P&C Associations have responsibilities under the Australian taxation system. GST registration for non-profit bodies, including P&C Associations, is required where annual turnover exceeds or is expected to exceed $150,000 for activities other than fundraising and canteens. Your P&C Association will not have to register for the GST, as there are provisions that may take advantage of as a non-profit volunteer organisation ( To calculate the turnover for GST: Examine the income for the past 12 months, before any expenditure has been deducted. Calculate projected annual turnover by estimating the likely income for the year ahead. Do not include income from the input-taxed canteen or other fundraising activities Do not include donations Do not include voluntary contributions Do not include total income from activities for which you receive a commission, E.g. art shows, computer expos Include income from all other sources such as membership fees, and any government operational grants for Out Of School Hours centres Other Review your projections regularly. If the current turnover for your projected turnover is $150,000 or more, you MUST register for GST. IF YOU DO NOT REGISTER FOR THE GST YOU: Do not have to charge GST on things you sell. Do not have to pay tax on the value you add to anything you supply. Do not have to calculate and remit the GST to the ATO. Do not have to keep records of all GST transactions or meet other costs of compliance. IF YOU DO REGISTER FOR THE GST YOU: Will be able to claim back input tax credits. Will have to charge the GST on taxable items you sell. Will have to calculate and remit the GST to the ATO. Will have to keep records of all GST transactions and meet all other costs of compliance. 13. CANTEENS School canteens operated by P&C Associations are treated differently under the Tax Act from most other enterprises for the purposes of GST. Items sold through school canteens can be input taxed and the gross income derived from those sales will not be counted when calculating the association s annual turnover (visit the ATO website under the Non-profit tab). Being input taxed means you will pay GST on any taxable supplies that you purchase to run your canteen and you will not be able to claim them back. To input tax your canteen, the canteen: Must be part of the P&C Association Must not apply for its own ABN Must not register for GST Income can then be excluded from the calculation of your P&C Association s annual turnover. Record in your meeting minutes that your P&C Association intends to input tax supplies made through your canteen.

9 14. DONATION TO THE SCHOOL When the P&C Association makes a donation to the school for the purchase of equipment, resources or materials the P&C Association is free to specify the items it wishes to supply or indicate that it is making a donation for the purchase of a specified item. This will be regarded as a gift, rather than a conditional donation. To purchase equipment and resources for the school, the P&C Association should ask the school to order the goods and make a donation for the cost less GST and ensure that supporting documentation of proof of purchase is provided by the school. 15. FUNDRAISING EVENTS A charitable institution, charitable fund, gift deductible entity or government school may choose to treat certain fundraising events as input taxed. If an organisation chooses to treat a fundraising event as an input taxed fundraising event, it will have to treat all sales it makes in connection with the event as input taxed. That is, the organisation will not be entitled to claim GST credits for any acquisitions in relation to the event and it will not be required to charge GST on the sales it makes. The organisation will not be entitled to claim GST credits regardless of whether the supply would have been GST-free had it not made the decision. Proceeds from input taxed fundraising events do not form part of an organisation s annual turnover. Therefore, if an organisation chooses to treat all sales in connection with certain fundraising events as input taxed, it does not need to register for GST provided its annual turnover is not more than $150, FUNDRAISING WITH PRIZES A raffle is a lottery where the total value of prizes does not exceed $30,000. Prizes are distributed by the conduct of a draw of tickets or marbles from a barrel or other device. A lottery where the total value of the prizes exceeds $30,000 is called an art union. An art union can only be conducted under the authorising permit. A raffle may only be conducted to raise funds for the benefit of a not-for-profit organisation. A register must be established for art unions to record to whom tickets have been issued, how many and what was returned, including money and unused tickets. This provides sufficient accountability for the raffle tickets issued, returned, together with funds raised and allows for a transparent reconciliation of funds raised. Raffles, Social Housie and Guessing Competitions may be conducted without the need for a permit. However Chocolate Wheels, Lucky Envelopes and Housie require permits. There are many regulations regarding record keeping and facilitating of fundraising activities. It is important to check with the state legislations and guidelines to ensure that your P&C Association is compliant. Visit the NSW Office of Liquor, Gaming and Racing for resources and information to assist your P&C Association. 17. SUB-ENTITY PROVISION Non-profit organisations that are registered for GST have the option of treating their small independent subentities (e.g. OOSH sub-committee) as if they were separate entities for GST purposes and not part of the main organisation. If a non-profit sub-entity registers for ABN, the ABN can be used for GST purposes only.

10 18. CANCELLING YOUR GST REGISTRATION You must apply to the Australian Tax Office ( to cancel your GST registration. You may request cancellation only if you are not required to be registered because your annual turnover falls below the GST turnover threshold for compulsory registration. 19. AUSTRALIAN BUSINESS NUMBER (ABN) The Australian Business Number (ABN) is a single identifier that businesses and non-profit organisations use in their dealings. Non-profit entities need an ABN ( to register for GST. An ABN is useful for all non-profit entities, because even organisations that are income tax exempt can have obligations for other taxes. P&C Associations are income-tax exempt, charities under the Tax Act and must hold an ABN. The ABN should be used for all financial activities undertaken by the association. The Treasurer should ensure that the canteen and other fundraising committees have a copy of the P&C Association s ABN. An ABN is needed to: Register for GST and claim input tax credits Register for Pay as You Go (PAYG) Deal with investment bodies Apply to the ATO for endorsement as a deductible gift recipient (DGR) Avoid having tax withheld from your income Interact in future with other government departments and agencies Make an insurance claim Interact with the ATO on other taxes. ABN registration details will become part of the Australian Business Register (ABR) which the ATO maintains. The publicly available information on the ABR will allow people to find out whether the entities they are dealing with have an ABN, are registered for GST or are endorsed as deductible gift recipients. 20. AUDIT Appointment of the P&C Association s auditor occurs at each Annual General Meeting based on a recommendation from the Treasurer. When making a recommendation the Treasurer should ensure that the person nominated is not an office-bearer of the association. The person nominated does not have to be a qualified professional, however, they must have an understanding of financial management and bookkeeping and issues of probity. The auditor reconciles the records of the P&C Association such as the ledger, bank statements, cheque butts, bank deposits and receipts as well as sighting the minutes of the association for the enabling resolution. The auditor also reconciles the records for each sub-committee, in the same manner, where separate accounts are kept and then provides a summary of total assets held by the P&C Association. Audit Reports for Incorporated P&C Associations must be sent to P&C Federation within one (1) month of your P&C Annual General Meeting. This meets the requirement of an Incorporated P&C Association to publicly record its financial statements. Send resources to; or Locked Bag 40 Granville NSW 2142.

11 21. SAMPLES EXAMPLE OF PETTY CASH RECORD FORM Date Petty cash Claimant In Out Admin Stationary Balance 01-May Bank Advance $50.00 other $ May PC-1 Stamps letters for fete $5.00 $5.00 $ May PC-2 Envelopes $2.85 $2.85 $42.15 EXAMPLE OF A CALCULATION Activity Profit Income Turnover for GST Bank Interest $ $ $ Membership Fees $ $ $ Canteen $12, $120, $0.00 Input taxed activity Uniform Shop $2, $7, $0.00 Input taxed fund raising activity Out of School Hours $0.00 $50,00.00 $50, Business Fete $5, $6, $0.00 One-off fundraising event Voluntary Contributions $0.00 $1, $0.00 Donations Band Sub-committee $3, $11, $11, Total $22, $22, $61, This P&C Association will not have to register for the GST as its turnover for GST purposes is under $150,000.

12 SAMPLE TREASURER MONTHLY REPORT Treasurer Monthly Report Income & Expenditure Statement for Report P&C Association May 2014 Income Opening Balance from April 2014 $10, Canteen $3, Mother s Day Stall $ Uniform shop $ Bank Interest $ 7.36 Sub total $ 3, Less Expenses Canteen supplies $1, Mother s Day Stall $ Donation to School (Library) $2, Petty Cash $ 7.85 Fete $ Uniform shop $ Sub total $ 4, Book Balance $10, Bank Statement Reconciliation Balance as per Bank Statement No 99 $12, Add un-presented Deposits $0.00 Less un-presented cheques $ 2, As per Book Balance $10,026.86

13 SAMPLE TREASURER ANNUAL INCOME & EXPENDITURE REPORT Income and Expenditure Statement for Report P&C Association AGM 2013 Income Canteen $30, Mother s Day Stall $ Membership $ Fundraising $ Fete $10, Father s Day Stall $ Uniform shop $ Bank Interest $ Sub total $42, Less Expenses Canteen $15, Mothers & Father s Day Stall $ Donation to School $ 8, Petty Cash $ Membership & Insurance $ Fundraising $ Fete $ 2, Uniform shop $ Sub total $27, Surplus/(Deficit) $15, Each fundraising sub-committee should produce a statement similar to this if it maintains its own set of books.

14 SAMPLE TREASURER ANNUAL STATEMENT OF FUNDS Annual Statement of Funds Report P&C Association AGM 2013 Cheque Account $30, Canteen Account $ 9, Term Deposit $60, Petty Cash on hand $ Total funds held by the P&C Association $99,683.25

15 EXAMPLE BOOK LEDGER INCOME CREDITS Date Details Receipt Fete Canteen Uniform Membership Mother s Bank Interest Donations Banked Ref Day Stall 2/5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Uniform Shop $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ /5/2012 Mother Day stall $ $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ /5/2012 Uniform Shop $11.50 $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Uniform Shop $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ /5/2012 Bank Interest $ /5/2012 Canteen Takings $ $ /5/2012 Canteen Takings $ $ Sub Total $0.00 $3, $41.50 $0.00 $ $7.36 $0.00 $ 3, Balance Forward $10, Income for Month $ 3, Less Expenses for the Month $ 4, Book Balance $10,026.86

16 EXAMPLE BOOK LEDGER EXPENSES EXPENDITURE Date Details Cheque Fete Canteen Uniform Petty Cash Mother s Day Stall General Donations Total Ref No 2/5/2012 Baker Brown & Jones 70 $ $ /5/2012 Greens Fruit & Veg 71 $ $ /5/2012 Card Shop 72 $60.00 $ /5/2012 Milko 73 $ $ /5/2012 Stamps 74 $5.00 $ /5/2012 Envelopes 75 $2.85 $ /5/2012 Baker Brown & Jones 23/5/2012 Greens Fruit & Veg 76 $ $ $ $ /5/2012 School Library 78 $2, $2, /5/2012 L W Reid 79 $ $ /5/2012 P&C Federation Insurance 80 $ $ /5/2012 Smith Hire 81 $20.00 $20.00 Totals $ $1, $ $7.85 $60.00 $0.00 $2, $4, Bank Statement Reconciliation Balance as per Bank $12, Statement No 99 Add un-presented Deposits $0.00 Less un-presented cheques $2, Book Balance $10,026.86

17 EXAMPLE AUDITOR REPORT Statement of Receipts and Payments for P&C Association For the period ending 31st December 2012 Opening Balance from 31/12/2011 $26, Deposit not credited $0.00 Un-presented cheques $0.00 Sub Total $0.00 $26, DEPOSITS In services Affiliation $36.00 Canteen $10, Uniform shop $12, Bank Interest $ FUNDRAISING DISCO $6, Raffle $3, Mother s Day $1, Father s Day $1, Open Day $ $12, Total Deposits $34, WITHDRAWALS Bank Fees Donations Canteen $7, Uniform shop $8, Audit Expenses $ Disco $3, COLA & Air Conditioning $15, Sample Public School $2, Insurance & Affiliation $ Sport State Representation $450.00

18 OTHER Open Day $ Mother s Day $ Father s Day $1, Raffle $1, Gifts $ Petty Cash $75.85 Representation $ $4, Total Withdrawals $42, Total at Bank $18, Un-presented Cheques $0.00 Balance as per Bank Statement No. 264 as at 31st December 2012 $18, Petty Cash on hand $0.00 Balance carried Forward $18, Auditors report I have examined the accounts and records of the Sample Statement Public School Parents and Citizens Association for the year ending 31/12/2012 and have found them to be a true and accurate account of the financial standing of that organisation. AUDITOR SIGNATURE / DATE / NAME

Financial Management Policy

Financial Management Policy Financial Management Policy POLICY STATEMENT: Hastings Early Intervention Program Inc. is required by the Associations Incorporation Act 2009 to keep proper financial records, ensure financial probity

More information

Guide to MAINTAINTING FINANCIAL RECORDS

Guide to MAINTAINTING FINANCIAL RECORDS March April 2016 C&S Program Guide to MAINTAINTING FINANCIAL RECORDS (AKA Treasurers Handbook) C&S Office Ground Level, Manning House c.socs@usu.edu.au 9563 6118 9563 6160 www.usu.edu.au 2 CONTENTS INTRODUCTION...

More information

FALKIRK COUNCIL CHILDREN'S SERVICES PARENT COUNCIL FINANCIAL GUIDELINES

FALKIRK COUNCIL CHILDREN'S SERVICES PARENT COUNCIL FINANCIAL GUIDELINES FALKIRK COUNCIL CHILDREN'S SERVICES PARENT COUNCIL FINANCIAL GUIDELINES 1. INTRODUCTION These financial guidelines are to help Parent Councils follow good bookkeeping practice and ensure that the administration

More information

Tax basics for non profit organisations

Tax basics for non profit organisations Guide for non-profit organisations Tax basics for non profit organisations A guide to tax issues affecting non-profit organisations including charities, clubs, societies and associations You should use

More information

Treasurer s Guide 1 : Introduction to Financial Management

Treasurer s Guide 1 : Introduction to Financial Management Treasurer s Guide 1 : Introduction to Financial Management CONTENTS 1.1. The Role of the Treasurer 1.2. Do s & Don'ts 1.3. Job descriptions 1.3.1. Treasurer 1.3.2. Book-keeper 1.3.3. Cashier 1.3.4. Stewardship

More information

Guidelines for Branch Treasurers. Version 1.1 25 August 2012. Page 1 of 31 Guidelines for Branch Treasurers - Aug 2012 FINAL.doc

Guidelines for Branch Treasurers. Version 1.1 25 August 2012. Page 1 of 31 Guidelines for Branch Treasurers - Aug 2012 FINAL.doc Guidelines for Branch Treasurers Version 1.1 25 August 2012 Page 1 of 31 Table Of Contents WELCOME AND THANK YOU!...... 4 1. INTRODUCTION............ 5 2. WHAT DOES A TREASURER DO?...... 5 3. RAISING MONEY

More information

Burleson Independent School District

Burleson Independent School District Burleson Independent School District PTO/Booster Club Guidelines 11/1/2014 The following guidelines are to be used for student support activity groups (Parent Teacher Organizations, Booster Clubs, etc.)

More information

Volunteers and tax. Guide for non-profit organisations and individuals. Treatment of transactions between non-profit organisations and volunteers

Volunteers and tax. Guide for non-profit organisations and individuals. Treatment of transactions between non-profit organisations and volunteers Guide for non-profit organisations and individuals Volunteers and tax Treatment of transactions between non-profit organisations and volunteers You should use this guide if you are involved in the administration

More information

FINANCIAL CONTROLS POLICIES AND PROCEDURES FOR SMALL NONPROFIT ORGANIZATIONS

FINANCIAL CONTROLS POLICIES AND PROCEDURES FOR SMALL NONPROFIT ORGANIZATIONS By Cindy Cumfer NOTE: These policies and procedures are designed for small nonprofits that do not have an administrator with financial expertise. They are set up to divide the fiscal control roles between

More information

Checklist. Internal financial controls for charities. Contents. 1. Self-assessment checklist

Checklist. Internal financial controls for charities. Contents. 1. Self-assessment checklist 1 of 9 Internal financial controls for charities Checklist Contents 1. Self-assessment checklist 1 2. Some key issues, monitoring arrangements and risk of fraud 2 3. Income 3 4. Purchases and payments

More information

FS-06-SF3 School Funds Receipt Log; FS-04-SF2 Schools Funds Payment Request; FS-04-SF1 School Funds: Advance of Funds

FS-06-SF3 School Funds Receipt Log; FS-04-SF2 Schools Funds Payment Request; FS-04-SF1 School Funds: Advance of Funds Administrative SCHOOL FUNDS Responsibility: Legal References: Related References: Executive Superintendent of Business Services Nil FS-04-SF4 School Funds: Receipts; FS-06-SF3 School Funds Receipt Log;

More information

Summary of Significant Revisions to the Accounting Procedures Manual For the Public Schools in the State of West Virginia

Summary of Significant Revisions to the Accounting Procedures Manual For the Public Schools in the State of West Virginia 1-3 Not Specifically Addressed School personnel do not have statutory authority to enter into contracts or obligate board funds. Schools are not separate legal entities. 1-3 Not Specifically Addressed

More information

Girl Guides Queensland SIMPLE BOOK-KEEPING. Requirements on How to Keep a Cash Book. Support Group and District Support Team Accounts

Girl Guides Queensland SIMPLE BOOK-KEEPING. Requirements on How to Keep a Cash Book. Support Group and District Support Team Accounts Girl Guides Queensland SIMPLE BOOK-KEEPING Requirements on How to Keep a Cash Book Support Group and District Support Team Accounts 2012 Girl Guides Queensland Girl Guides Queensland 17 Gould Rd Herston

More information

APPENDIX A DRAFT Policy DIE-1 School Funds: Audit & Financial Monitoring Procedures

APPENDIX A DRAFT Policy DIE-1 School Funds: Audit & Financial Monitoring Procedures APPENDIX A DRAFT Policy DIE-1 School Funds: Audit & Financial Monitoring Procedures Administrative Guidelines Financial Monitoring Procedures The following Administrative Guidelines support the Principal

More information

Pitt County Schools Individual School Accounting. Internal Controls and Responsibilities Fiscal Year 2009-10

Pitt County Schools Individual School Accounting. Internal Controls and Responsibilities Fiscal Year 2009-10 Individual School Accounting Internal Controls and Responsibilities Fiscal Year 2009-10 Individual School Accounting Internal Controls and Responsibilities Fiscal Year 2009-10 Contents Page Principal Statement

More information

CANI Financial Policy and Procedures

CANI Financial Policy and Procedures CANI Financial Policy and Procedures Policy CANI Council is conscious of the need to ensure that all funds received by the organisation are used in accordance with the aims and objectives of CANI; that

More information

TORFAEN COUNTY BOROUGH COUNCIL SCHOOL PRIVATE FUNDS. CONTEXT (Taken from Audit Commission and Estyn guidance Keeping your balance October 2000)

TORFAEN COUNTY BOROUGH COUNCIL SCHOOL PRIVATE FUNDS. CONTEXT (Taken from Audit Commission and Estyn guidance Keeping your balance October 2000) TORFAEN COUNTY BOROUGH COUNCIL SCHOOL PRIVATE FUNDS CONTEXT (Taken from Audit Commission and Estyn guidance Keeping your balance October 2000) Voluntary funds often provide schools with a substantial additional

More information

FINANCIAL MANAGEMENT POLICIES AND PROCEDURES

FINANCIAL MANAGEMENT POLICIES AND PROCEDURES FINANCIAL MANAGEMENT POLICIES AND PROCEDURES SAMPLE 1. GENERAL PURPOSE The purpose of these policies is to establish guidelines for developing financial goals and objectives, making financial decisions,

More information

ANZSLA FINANCIAL PROCEDURES MANUAL

ANZSLA FINANCIAL PROCEDURES MANUAL Finance Policy 1 Policy Statement ANZSLA FINANCIAL PROCEDURES MANUAL 1 In keeping with the primary and subsidiary purposes as set out in the Constitution, ANZSLA is committed to providing for its members

More information

Sheep River Library Policy Manual: Finance Page 1

Sheep River Library Policy Manual: Finance Page 1 SECTION 7: Bylaw: The Sheep River Library Board shall assume meticulous responsibility for the fiduciary management of funds while upholding all financial agreements and reporting requirements to federal,

More information

2.4 GST and Tax Invoices. 2.4.1 Introduction to the GST

2.4 GST and Tax Invoices. 2.4.1 Introduction to the GST 2.4 GST and Tax Invoices 2.4.1 Introduction to the GST The Goods and Services Tax (GST) commenced in Australia on 1 July 2000. The principle Act governing the operation of the GST is the Goods and Services

More information

Club Administration Manual Chapter 7 The Club Treasurer

Club Administration Manual Chapter 7 The Club Treasurer Club Administration Manual Chapter 7 The Club Treasurer CONTENTS Contents... 1 7 THE CLUB TREASURER... 3 7.1 INTRODUCTION... 3 7.2 DUTIES OF THE CLUB TREASURER... 3 7.3 ADMINISTRATION MANUAL & CONSTITUTIONS...

More information

Incorporated. Associations. Good Business Guide. From the Office of Fair Trading

Incorporated. Associations. Good Business Guide. From the Office of Fair Trading Incorporated Associations Good Business Guide From the Office of Fair Trading Introduction Incorporated associations are a vital part of Queensland s non-profit sector, with nearly 20,000 incorporated

More information

A School Fund may have various sources of income, among which may be: - Pupils fund-raising activities, e.g. sponsored events.

A School Fund may have various sources of income, among which may be: - Pupils fund-raising activities, e.g. sponsored events. SECTION P - SCHOOL FUNDS P.1 General P.1.1 P.1.2 Most educational establishments have monies made available to them from sources other than the County Council. Such funds are generally referred to as School

More information

THE NATIONAL BIODIVERSITY NETWORK TRUST RULES AND STANDING ORDERS

THE NATIONAL BIODIVERSITY NETWORK TRUST RULES AND STANDING ORDERS THE NATIONAL BIODIVERSITY NETWORK TRUST RULES AND STANDING ORDERS ANNEXE 2 FINANCIAL MEMORANDUM (A WORKING PAPER) TABLE OF CONTENTS Sarah Hyslop Last updated 14 th December 2011 Page 1 of 10 1. INTRODUCTION

More information

Manual of Accounting Policies and Procedures Bridgewater State College Foundation Bridgewater Alumni Association

Manual of Accounting Policies and Procedures Bridgewater State College Foundation Bridgewater Alumni Association Manual of Accounting Policies and Procedures Bridgewater State College Foundation Bridgewater Alumni Association Table of Contents MANUAL OF 1 ACCOUNTING 1 POLICIES AND PROCEDURES 1 BRIDGEWATER STATE COLLEGE

More information

Fiscal Procedure Sequence page number

Fiscal Procedure Sequence page number Table of Contents Fiscal Procedure Sequence page number Treasurer Responsibilities Maintenance of General Ledger Financial Statements Financial Signature/Review Policy Insurance Protection Payroll Procedures

More information

Section L: Voluntary funds

Section L: Voluntary funds Section L: Voluntary funds Why is this area important? Voluntary funds (or Unofficial Funds as they are generally termed) often provide schools with a substantial additional source of income. Although

More information

Vance County Schools Individual School Accounting

Vance County Schools Individual School Accounting Individual School Accounting Internal Controls and Responsibilities Individual School Accounting Internal Controls and Responsibilities Contents Page Principal Statement of Understanding 3 Treasurer Statement

More information

\)1,r,\, (il " i ) \ ' i, 1\.tff },,-:,, " ' " Ministry of Education. ~\ School Financial 'I. Procedures

\)1,r,\, (il  i ) \ ' i, 1\.tff },,-:,,  '  Ministry of Education. ~\ School Financial 'I. Procedures r -~ 1 \)1 r\ (il " i ) \ ' i 1\.tff } '. "'\1' ''" 9 i" >" " " -: " ' " Ministry of Education! ~\ School Financial 'I Procedures ! I ' I SCHOOL FINANCIAL PROCEDURES Quick Guides Table of Contents A) Introduction...

More information

Booster Club and Exempt Organizations Audit Committee General Information

Booster Club and Exempt Organizations Audit Committee General Information Booster Club and Exempt Organizations Audit Committee General Information General Information Each organization is required to have an audit committee conduct an annual review of the organization s revenues

More information

Cash Receipt and Banking Internal Controls

Cash Receipt and Banking Internal Controls Chapter 4 Cash Receipt and Banking Internal Controls A major asset of parishes is its cash and cash equivalents, including marketable securities and other highly liquid assets readily convertible into

More information

The Wheel. useful information for setting up a voluntary organisation

The Wheel. useful information for setting up a voluntary organisation The Wheel useful information for setting up a voluntary organisation Introduction When an organisation is starting up it is important for the members to consider the following points carefully: Whether

More information

FINANCIAL PROCEDURES. Belfast Music Society

FINANCIAL PROCEDURES. Belfast Music Society FINANCIAL PROCEDURES Belfast Music Society CONTENTS Purpose of document 1. Ordering supplies and services 2. Payment authorisation 3. Cheque writing and signing 4. Handling of cash 5. Salaries, payroll

More information

Tax basics for non profit organisations

Tax basics for non profit organisations Guide for non-profit organisations Tax basics for non profit organisations A guide to tax issues affecting non-profit organisations including charities, clubs, societies and associations You should use

More information

Gen er a l L ed ger Fin a n c ia l In fo r m a t io n P o lic y

Gen er a l L ed ger Fin a n c ia l In fo r m a t io n P o lic y Gen er a l L ed ger Fin a n c ia l In fo r m a t io n P o lic y Classification: Policy Name: Council Policy General Ledger Financial Information Policy First Issued / Approved: 11 August 2015, C 10311

More information

LOCAL TRAINING INITIATIVE

LOCAL TRAINING INITIATIVE Training Standards System LOCAL TRAINING INITIATIVE BOOKS OF ACCOUNT AND RECORD KEEPING Best Practice Guidelines Page 1 of 13 The LTI must comply with public procurement guidelines when purchasing goods

More information

Great Aycliffe Town Council. Purchase Ordering and Payment for Goods and Services Policy

Great Aycliffe Town Council. Purchase Ordering and Payment for Goods and Services Policy Great Aycliffe Town Council Purchase Ordering and Payment for Goods and Services Policy Finance Section April 2013 1.0 Introduction 1.1 This policy sets out the Council s arrangements for ordering, receiving,

More information

The Secretary s Legal Duties and Powers

The Secretary s Legal Duties and Powers The Secretary s Legal Duties and Powers 3.01 What Duties? The secretary is the person whom the Associations Incorporation Act focuses on to maintain the records of the association with the Office of Fair

More information

Before you begin. Topic 1: Maintain financial journal systems 1

Before you begin. Topic 1: Maintain financial journal systems 1 Contents Before you begin vii Topic 1: Maintain financial journal systems 1 1A The accounting process 2 1B Source documents 3 1C Dealing with errors 17 1D Entering transactions into the journal system

More information

DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY

DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY DIXON MONTESSORI CHARTER SCHOOL FISCAL CONTROL POLICY 1. Purpose The Dixon Montessori Charter School Board of Directors ( Board ) has reviewed and adopted the following policies and procedures to ensure

More information

Archdiocese of Chicago Parish Self-Assessment Checklist

Archdiocese of Chicago Parish Self-Assessment Checklist Self-Assessment Questions 1. Are written Parish Finance Council guidelines and norms defined, documented, and available to all Parish Finance Council members? 2. Are Archdiocesan best practices communicated

More information

EQUESTRIAN SPORTS FINANCIAL MANAGEMENT POLICY & PROCEDURE

EQUESTRIAN SPORTS FINANCIAL MANAGEMENT POLICY & PROCEDURE EQUESTRIAN SPORTS FINANCIAL MANAGEMENT POLICY & PROCEDURE Policy Area: Financial Management Policy Number: EQ 0007 Effective Date: 01 September, 2014 In 2003 as a result of irregularities in the reporting

More information

ACCOUNTING POLICY AND PROCEDURE MANUAL

ACCOUNTING POLICY AND PROCEDURE MANUAL ACCOUNTING POLICY AND PROCEDURE MANUAL For (CHURCH NAME) ADOPTED ON DATE: Date NOTE: This manual is a template for you to use to establish your polices. Fill in applicable data as needed. Prior to sending

More information

Sheffield Parent Carer Forum - Financial Standing Orders

Sheffield Parent Carer Forum - Financial Standing Orders Contents 1. Responsibilities of the Trustees 2. Maintenance of these standing orders and financial procedures 3. Maintenance of records and financial control 4. Security of financial information 5. Annual

More information

FNSBKG402A Establish and maintain a cash accounting system

FNSBKG402A Establish and maintain a cash accounting system FNSBKG402A Establish and maintain a cash accounting system Revision Number: 1 FNSBKG402A Establish and maintain a cash accounting system Modification History Not applicable. Unit Descriptor Unit descriptor

More information

CAPACITY BUILDING AND OVERSIGHT BEST PRACTICES

CAPACITY BUILDING AND OVERSIGHT BEST PRACTICES CAPACITY BUILDING AND OVERSIGHT BEST PRACTICES NOT-FOR-PROFIT VENDOR REVIEWS MAYORS OFFICE OF CONTRACT SERVICES 1) Not-for-profit organization has effective and dynamic governance structure a) At least

More information

FINANCE COMMITTEE PROCEDURES. Audit Process. Cash Handling

FINANCE COMMITTEE PROCEDURES. Audit Process. Cash Handling 1 FINANCE COMMITTEE PROCEDURES Audit Process 1. Internal audits are conducted once a year. 2. The bookkeeper will provide the following information: bank statements, prior year vouchers, and access to

More information

Charity reporting and accounting: the essentials

Charity reporting and accounting: the essentials Charity reporting and accounting: the essentials January 2013 Contents 1. The accounting framework at a glance 2 2. Introduction 4 3. Preparing the trustees annual report and the accounts 7 4. Specific

More information

SMALL BUSINESS OWNER S HANDBOOK

SMALL BUSINESS OWNER S HANDBOOK SMALL BUSINESS OWNER S HANDBOOK PART V: RECORD KEEPING FOR A SMALL BUSINESS Introduction Bookkeeping Payroll & Personnel Records Other Important Records Record Keeping Checklist Final Considerations Introduction

More information

Audit Guidelines. The Annual Church Audit. by Dan Busby. Key Concepts. Idea! Use this document as a checklist for your annual audit.

Audit Guidelines. The Annual Church Audit. by Dan Busby. Key Concepts. Idea! Use this document as a checklist for your annual audit. The Annual Church Audit by Dan Busby Audit Guidelines Church board members have a long list of responsibilities. Among these is the responsibility for the money that flows through the church. Included

More information

SAMPLE FINANCIAL PROCEDURES MANUAL

SAMPLE FINANCIAL PROCEDURES MANUAL SAMPLE FINANCIAL PROCEDURES MANUAL Approved by (organization s) Board of Directors on (date) I. GENERAL 1. The Board of Directors formulates financial policies, delegates administration of the financial

More information

LIANZA Code of Practice - Part Four

LIANZA Code of Practice - Part Four LIANZA Code of Practice - Part Four Financial Guidelines and Practices for Regions and Special Interest Groups (SIGs) updated July 2011 following all accounts being streamlined into the LIANZA Trust Management

More information

SUMMARY OF CORRECTIVE ACTION FOR SEGREGATION OF DUTIES AUDIT ISSUES

SUMMARY OF CORRECTIVE ACTION FOR SEGREGATION OF DUTIES AUDIT ISSUES SUMMARY OF CORRECTIVE ACTION FOR SEGREGATION OF DUTIES AUDIT ISSUES CASH MANAGEMENT I. Checks a. All checks are restrictively endorsed, using the endorsement stamp maintained by the building secretary.

More information

Section 1 School Bank Account

Section 1 School Bank Account Section 1 School Bank Account 1. Introduction All schools operate a local bank account, which allows them to pay for all costs directly, including employee s salaries. The proper administration of bank

More information

School Governors Forum Audit Briefing

School Governors Forum Audit Briefing School Governors Forum Audit Briefing January 2016 Presenters : Peter Jackson, Audit Manager Nicola Burton, Senior Auditor Introduction Welcome Housekeeping Registration Briefing Content 1. School Financial

More information

Part 2 PROCESSING TRANSACTIONS in GENERIC SOFTWARE

Part 2 PROCESSING TRANSACTIONS in GENERIC SOFTWARE 11 Part 2 PROCESSING TRANSACTIONS in GENERIC SOFTWARE 2.1 Getting Started Other manuals in this series have been written for specific accounting software, e.g. MYOB and QuickBooks. This manual is generic,

More information

CASH: CASH CONTROLS C-173 ACCOUNTING MANUAL Page 1. Contents. I. Introduction 2. II. General Description of Cash Operations 2

CASH: CASH CONTROLS C-173 ACCOUNTING MANUAL Page 1. Contents. I. Introduction 2. II. General Description of Cash Operations 2 ACCOUNTING MANUAL Page 1 CASH: CASH CONTROLS Contents I. Introduction 2 II. General Description of Cash Operations 2 III. Bank Account Controls 3 A. Regulations Governing Bank Accounts 3 B. Establishment

More information

MEMBERSHIP AND INSURANCE GUIDE

MEMBERSHIP AND INSURANCE GUIDE Federation of Parents and Citizens Associations of New South Wales MEMBERSHIP AND INSURANCE GUIDE 1 AUGUST 2014 31 JULY 2015 Federation of Parents and Citizens Associations of New South Wales Locked Bag

More information

The policy and procedural guidelines contained in this handbook are designed to:

The policy and procedural guidelines contained in this handbook are designed to: BASIC POLICY STATEMENT The Mikva Challenge is committed to responsible financial management. The entire organization including the board of directors, administrators, and staff will work together to make

More information

BIWP FINANCIAL POLICY AND PROCEDURES

BIWP FINANCIAL POLICY AND PROCEDURES BIWP FINANCIAL POLICY AND PROCEDURES Approved by the management committee on 17 th April 2015 1. Introduction 1. We have a management committee which is elected at the Annual General Meeting. 2. The management

More information

FINANCIAL AND PURCHASING RECORDS. Includes records showing a summary of receipts, disbursements and other activity against each account.

FINANCIAL AND PURCHASING RECORDS. Includes records showing a summary of receipts, disbursements and other activity against each account. FINANCIAL AND PURCHASING RECORDS FN-1 Account Distribution Summaries (Treasurer s Report) Includes records showing a summary of receipts, disbursements and other activity against each account. Weekly/Monthly-

More information

Finance Handbook 2015-16

Finance Handbook 2015-16 Finance Handbook 2015-16 INTRODUCTION In order to be a ratified society, group accounts must be controlled by KCLSU. This allows us to fulfil our charitable objective, and also ensures that we maintain

More information

BEDFORD PUBLIC SCHOOLS BUSINESS OFFICE PROCEDURES MANUAL

BEDFORD PUBLIC SCHOOLS BUSINESS OFFICE PROCEDURES MANUAL BEDFORD PUBLIC SCHOOLS BUSINESS OFFICE PROCEDURES MANUAL Revised 3-27-2014 TABLE OF CONTENTS Section 1: Section 2: Section 3: Section 4: Section 5: Section 6: Section 7: Section 8: Section 9: Cash Management

More information

Political Committee and Political Fund Handbook Last Revised 7/2/2015

Political Committee and Political Fund Handbook Last Revised 7/2/2015 Minnesota Campaign Finance and Public Disclosure Board www.cfboard.state.mn.us (651) 539-1180 (800) 657-3889 Political Committee and Political Fund Handbook Last Revised 7/2/2015 Welcome... 3 Starting

More information

Factsheet: Document retention requirements for a company

Factsheet: Document retention requirements for a company Factsheet: Document retention requirements for a company Introduction The following outlines some frequently asked questions and answers about keeping records and documents. Before you read them you should

More information

To the Rector, Wardens and Vestry of (Church Name; Church Address; City and Zip)

To the Rector, Wardens and Vestry of (Church Name; Church Address; City and Zip) Section B. Sample Audit Committee Certificate Date To the Rector, Wardens and Vestry of (Church Name; Church Address; City and Zip) Subject: (Audit Year) Audit of (Church Name) We have inspected the statement

More information

Maria A. Gutierrez, Board Member, Guam Education Board. Franklin Cooper-Nurse, Chief Internal Auditor, Internal Audit Office

Maria A. Gutierrez, Board Member, Guam Education Board. Franklin Cooper-Nurse, Chief Internal Auditor, Internal Audit Office JON J. P. FERNANDEZ Superintendent of Education DEPARTMENT OF EDUCATION INTERNAL AUDIT OFFICE 500 Mariner Avenue, Barrigada, Guam 96913 Telephone: (671) 300-1336 Fax: (671) 472-5001 Email: iao@gdoe.net

More information

2.1 Entering Transactions

2.1 Entering Transactions April 2.1 Entering Transactions You are now ready to start entering transactions. These can be divided into a variety of categories, as detailed below: (a) Sales Sales involve all sales that the organisation

More information

Standard 6: Financial and Asset Management The land trust manages its finances and assets in a responsible and accountable way.

Standard 6: Financial and Asset Management The land trust manages its finances and assets in a responsible and accountable way. 6A: Annual Budget Practice 6A: Annual Budget The land trust prepares an annual budget that is reviewed and approved by the board, or is consistent with board policy. The budget is based on programs planned

More information

DIRECTORS AND OFFICERS LIABILITY INSURANCE PROPOSAL FORM

DIRECTORS AND OFFICERS LIABILITY INSURANCE PROPOSAL FORM DIRECTORS AND OFFICERS LIABILITY INSURANCE PROPOSAL FORM IMPORTANT NOTICES Please answer every question fully, incomplete answers will not be accepted and may result in a delay in terms being issued. If

More information

Centrelink payments 7.2. Income tax 7.3. Goods and Services Tax (GST) 7.4. Managing a budget 7.5. What is indexation? 7.6

Centrelink payments 7.2. Income tax 7.3. Goods and Services Tax (GST) 7.4. Managing a budget 7.5. What is indexation? 7.6 7 Managing your direct payments This chapter offers a helpful guide to managing the financial side of your direct payments. It explains how direct payments relate to Centrelink payments, income tax and

More information

1. SEGREGATION OF DUTIES IS ESSENTIAL

1. SEGREGATION OF DUTIES IS ESSENTIAL The way a church handles money can present a positive or negative witness. Churches need to be diligent in handling money to encourage integrity and positive Biblical stewardship. Every step should be

More information

Internal Controls over Cash for Small Nonprofits

Internal Controls over Cash for Small Nonprofits Internal Controls over Cash for Small Nonprofits Internal controls may be a sensitive issue in small nonprofit organizations. These organizations are built on the concepts of honesty, truthfulness, and

More information

Accounting Manual for Parents and Citizens Associations

Accounting Manual for Parents and Citizens Associations Accounting Manual for Parents and Citizens Associations Version 3.2 August 2013 P&C Accounting Manual Version 3.1 Page 1 of 98 Table of Contents Introduction... 4 A Message from the P&Cs Qld... 4 The P&C

More information

UNIT TREASURER DUTIES GLENDALE COUNCIL PTA

UNIT TREASURER DUTIES GLENDALE COUNCIL PTA UNIT TREASURER DUTIES GLENDALE COUNCIL PTA Usha Archer, Council Treasurer 2011 Topics Mission Statement Board Responsibilities Sources of information Duties & Responsibilities Treasurers File Check Signers

More information

6. Compliance audit of a real estate agent s trust account

6. Compliance audit of a real estate agent s trust account 6. Compliance audit of a real estate agent s trust account 6. Compliance audit of a real estate agent s trust account 6:2 Audit of a real estate agent s trust account: Overview 6:2 Purpose 6:2 Legislation

More information

Checklist to establish a Public Company Limited by Guarantee

Checklist to establish a Public Company Limited by Guarantee Checklist to establish a Public Company Limited by Guarantee Overview This checklist sets out the steps to set up ( incorporate ) a public company limited by guarantee. A company limited by guarantee is

More information

SOUTH AUSTRALIAN RETIREMENT VILLAGES RESIDENTS ASSOCIATION INC. C O N S T I T U T I O N

SOUTH AUSTRALIAN RETIREMENT VILLAGES RESIDENTS ASSOCIATION INC. C O N S T I T U T I O N SOUTH AUSTRALIAN RETIREMENT VILLAGES RESIDENTS ASSOCIATION INC. 1. NAME C O N S T I T U T I O N The name of the Association shall be the South Australian Retirement Villages Residents Association Incorporated

More information

[LSC Name] Items Needed for Internal Audit [Audited as of Date]

[LSC Name] Items Needed for Internal Audit [Audited as of Date] Items Needed for Internal Audit [Audited as of Date] The following items should be available in preparation for your internal audit: 1. General ledger for the last complete fiscal year and year to date

More information

SCHOOL BOARD OF BROWARD COUNTY, FL INTERNAL FUNDS ACCOUNTING FUNDRAISING ACTIVITIES

SCHOOL BOARD OF BROWARD COUNTY, FL INTERNAL FUNDS ACCOUNTING FUNDRAISING ACTIVITIES Page 1 of 6 FUNDRAISING ACTIVITIES TOPICS IN BULLETIN: I. FUNDRAISING ACTIVITIES LIMITATIONS II. FUNDRAISING ACTIVITY PROCEDURES III. FINANCIAL REPORT, STUDENT ACTIVITY OPERATING REPORT IV. STATEMENT OF

More information

THE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION SHELTERBOX TRUST. Companies Act 2006

THE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION SHELTERBOX TRUST. Companies Act 2006 Company No: 04612652 Charity No: 1096479 THE COMPANIES ACT 2006 COMPANY LIMITED BY GUARANTEE AND NOT HAVING A SHARE CAPITAL ARTICLES OF ASSOCIATION OF SHELTERBOX TRUST Companies Act 2006 Company limited

More information

COUNTY OF TRINITY CASH HANDLING PROCEDURES

COUNTY OF TRINITY CASH HANDLING PROCEDURES COUNTY OF TRINITY CASH HANDLING PROCEDURES Prepared by the Trinity County Auditor/Controller s Office Revised October 1, 2009 TABLE OF CONTENTS I. Introduction--------------------------------------------------------------------1

More information

Colorado 4-H Club Treasurer Book

Colorado 4-H Club Treasurer Book Colorado 4-H Club Treasurer Book 90509A Club Treasurer Club Leader Year County This complete 4-H Treasurer Book and all the supplemental forms are available on the web at: www.colorado4h.org USDA requires

More information

THE ASSOCIATION OF CHARTERED CERTIFIED FORENSIC ACCOUNTANTS

THE ASSOCIATION OF CHARTERED CERTIFIED FORENSIC ACCOUNTANTS THE ASSOCIATION OF CHARTERED CERTIFIED FORENSIC ACCOUNTANTS ACCFA BYLAWS Contents 1. NAME, OFFICE, CORPORATE STATUS AND MISSION & VISION... 3 2. PURPOSES... 3 3. MEMBERSHIP... 4 4. TERMINATION OF MEMBERSHIP...

More information

Constitution. Constitution CEREBRAL PALSY AUSTRALIA. 25 th November 2009

Constitution. Constitution CEREBRAL PALSY AUSTRALIA. 25 th November 2009 Constitution Constitution CEREBRAL PALSY AUSTRALIA 25 th November 2009 Contents Table of contents Constitution 1 1 Company s name 1 2 Company s purposes 1 3 Company s powers 1 4 Not for profit status 2

More information

1.0 NAME The name of the Association shall be the Community Association (hereinafter called The Association ).

1.0 NAME The name of the Association shall be the Community Association (hereinafter called The Association ). (EXAMPLE) CONSTITUTION 1.0 NAME The name of the Association shall be the Community Association (hereinafter called The Association ). 2.0 OBJECTS The Association is established: 2.1 To relieve poverty,

More information

Model Constitution for a Charitable Unincorporated Association

Model Constitution for a Charitable Unincorporated Association Model Constitution for a Charitable Unincorporated Association It may be appropriate to establish an unincorporated association where the organisation: is to be relatively small in terms of assets; has

More information

Financial Management and Centre Based Services

Financial Management and Centre Based Services Financial Management and Centre Based Services A Children s Services Central Phone LinkUp Presented by Carol Lymbery for Community Child Care in conjunction with Contact Inc. October 2007 Program for Isolated

More information

Professional Indemnity Insurance Proposal Form Management Consultants (with Recruitment / On-Hired Labour Addendum)

Professional Indemnity Insurance Proposal Form Management Consultants (with Recruitment / On-Hired Labour Addendum) Professional Indemnity Insurance Proposal Form Management Consultants (with Recruitment / On-Hired Labour Addendum) IMPORTANT NOTICE Your Duty of Disclosure Before you enter into a contact of general insurance

More information

Clean-up and assistance grants for small business Information for applicants

Clean-up and assistance grants for small business Information for applicants Clean-up and assistance grants for small business Information for applicants TIER ONE GRANTS Purpose of this assistance To provide grants to small businesses which have suffered direct damage as a result

More information

Please complete, detach and forward the Cheque Account form to: The Anglican Savings and Development Fund PO Box 817 NEWCASTLE NSW 2300

Please complete, detach and forward the Cheque Account form to: The Anglican Savings and Development Fund PO Box 817 NEWCASTLE NSW 2300 CHEQUE ACCOUNT For completion by Anglican parishes or organisations Please complete, detach and forward the Cheque Account form to: The Anglican Savings and Development Fund PO Box 817 NEWCASTLE NSW 2300

More information

Elementary School Student Activities Guidebook

Elementary School Student Activities Guidebook Elementary School Student Activities Guidebook Updated July 1, 2015 Table of Contents 1. Student Activities Funds.. 3 2. Definitions.... 3 3. Administration...3 4. Stewardship and Custodial Responsibility....4

More information

VOLUNTARY UNOFFICIAL FUNDS

VOLUNTARY UNOFFICIAL FUNDS VOLUNTARY UNOFFICIAL FUNDS 1. INTRODUCTION 1.1 Definition 1. Voluntary Unofficial Funds are described as any funds (other than those of the Council) controlled wholly or in part by an employee by reason

More information

KIDS CAMPS INC CONSTITUTION Last Updated October NAME The name of the Incorporated Association is Kids Camps Inc.

KIDS CAMPS INC CONSTITUTION Last Updated October NAME The name of the Incorporated Association is Kids Camps Inc. KIDS CAMPS INC CONSTITUTION Last Updated October 2012 1. NAME The name of the Incorporated Association is Kids Camps Inc. 2. INTERPRETATION Throughout this Constitution if not inconsistent with the context:

More information

FISCAL POLICIES AND PROCEDURES

FISCAL POLICIES AND PROCEDURES FISCAL POLICIES AND PROCEDURES SECTION 1.1 FINANCIAL RECORDS AND REPORTING Colorado Nonprofit Association's fiscal period begins January 1 and ends December 31. The financial records of the organization

More information

4-H Treasurer s Record Book

4-H Treasurer s Record Book 4-H-453-04 4-H Treasurer s Record Book Name of 4-H Club/Unit 4-H Year: October 1, 20, to September 30, 20 4-H Club/Unit Treasurer Signature 4-H Club/Unit Organizational Leader Signature 4-H Programs Sources

More information

1. The organization mission or most significant activities that you wish to highlight this year:

1. The organization mission or most significant activities that you wish to highlight this year: Form 990 Questionnaire For All Organizations Core Form Heading & Pt I Summary 1. The organization mission or most significant activities that you wish to highlight this year: 2. Total number of volunteers

More information

NORTHERN LINCOLNSHIRE AND GOOLE HOSPITALS NHS FOUNDATION TRUST CHARITABLE FUNDS

NORTHERN LINCOLNSHIRE AND GOOLE HOSPITALS NHS FOUNDATION TRUST CHARITABLE FUNDS NORTHERN LINCOLNSHIRE AND GOOLE HOSPITALS NHS FOUNDATION TRUST CHARITABLE FUNDS REGISTERED CHARITY NO. 1054935 FUNDRAISING INFORMATION PACK FEBRUARY 2012 1 FUNDRAISING INFORMATION PACK PLEASE READ THE

More information

Corridor Elementary School Parent Teacher Organization. Fiscal Policies

Corridor Elementary School Parent Teacher Organization. Fiscal Policies Corridor Elementary School Parent Teacher Organization Fiscal Policies Approved by Board of Directors on March 1, 2013 FISCAL POLICIES Table of Contents Table of Contents 2 Introduction 3 Key Financial

More information